Bailey to exit ING IM as sale process stalls

The Asia-Pacific chief executive of ING Investment Management, Grant Bailey, is to exit the firm, staff have been told internally. It comes after negotiations between Ameriprise Financial, parent of Threadneedle Asset Management, and ING over the acquisition of the latter’s Asian investment business have broken down, sources indicate. Shortly after AsianInvestor broke the news yesterday, ING released a statement to confirm that Bailey would be leaving and would be succeeded as C…